What sum of money will amount to
* 6,655 at the rate of 10% per annum,
compounded annually in 3 years?
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Answer:
5000
Step-by-step explanation:
let the sum of money be x
a=p(1+r/100)
6655=x(1+0.1)(1+0.1)(1+0.1)
6655=x(1.1)(1.1)(1.1)
6655=x(1.331)
6655/1.331=x
5000 =x
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